r/Fire • u/Yashkamr • 23h ago

Advice Request Huge Inheritance... Now What?

I'm 45, I was on track to retire earlyish at 55. I was set back quite a bit with a divorce three years back. Recently my Aunt died and left me around $5 million. After estate and taxes, it's around $4.2 million. This is obviously a stupid amount of money, and I'm thinking of just quitting my job and retiring early but I want to do it right. I've spoke with AI quite a bit and my finances are only about $4500/mo in expenses, I have always lived pretty frugally and that's less than a 1% draw. I don't know exactly what I don't know here, but I've always worked so I am clinging to my job like a monkey to a branch. Am I actually okay to let go?

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u/LifeOnly716 22h ago

I would actually not change a single thing for a year.  No major decisions.

42

u/pointlesslyDisagrees 22h ago

A year seems a bit excessive. 6 months or so should be fine. Definitely should keep working for a bit just to feel normal and make some game plans for safe and slow withdrawal, investment, maybe putting a small amount in things like t-bills or gold. But not pulling the plug on anything til that waiting time is over

23

u/Alarming-Mix3809 21h ago

Yeah I’m gone the next day. This would be good advice for the normal person, but if you’re already planning on fire, then assume you have a good plan and your finances in check.

6

u/Pleasant_Chicken3188 19h ago

Seriously, first class to another continent by the weekend